Halozyme Therapeutics Inc. (NASDAQ: HALO) announced its subsidiary entered into an exclusive global collaboration and license agreement with Vertex Pharmaceuticals Incorporated for the company's Hypercon technology.

Under the agreement, Vertex licensed Halozyme's Hypercon technology for use in up to three drug targets. The technology is a microparticle system designed to enable hyperconcentration of drugs and biologics, potentially reducing injection volumes while maintaining the same dosage.

Vertex will pay Halozyme $15 million upfront, with additional milestone payments possible. Halozyme will receive royalties on net sales of products developed using the Hypercon technology.

"This collaboration with Vertex underscores the versatility and potential of our Hypercon technology to enable small volume, patient-delivered next‑generation biologics," said Helen Torley, President and Chief Executive Officer of Halozyme.

Mark Bunnage, Executive Vice President and Chief Scientific Officer of Vertex Pharmaceuticals, stated the company was pleased to add Halozyme's technology to support development of therapies for patients with serious diseases.

Halozyme's Hypercon technology has been licensed to other pharmaceutical companies including Janssen, Eli Lilly, and argenx. The San Diego-based company also develops the ENHANZE drug delivery technology, which has been used in ten commercialized products across over 100 global markets.

The information is based on a company press release.